采访视频链接：
Q1： Hello, Professor Chiao. Business leaders attending the Boao Forum have discussed on the development of the “Internet +” and “+ Internet” industries in China. What do you make of the special roles played by the Internet? And how will it benefit China’s economic growth.
问1： Ans: The role of the Internet is beyond the Internet. It spans across all industries. There are two main effects. The first one is a demonstration effect. Just like Shenzhen as a special economic zone since 30 years ago demonstrated how market economy works, the Internet is almost the only industry in China with no SOEs. With no subsidy and minimal government intervention, only the fittest survives. Shenzhen’s population grew 50 times in the last 30 years; I believe more industries will merge with the Internet too as long as the government is able to summarize the qualities of the Internet through the experiments. The second one is disintermediation, and more recently an emphasis of intermediation too. Internet helps streamline work processes cutting costs and prices, many traditional intermediaries are no longer needed. As mobile computing is picking up speed so fast, idle resources and manpower are more fully utilized through online platforms, thus new intermediaries emerged.
答： 第一个是示范作用。正如30年前深圳开始作为经济特区为“市场经济该怎样运行”所做的示范一样，今天的互联网产业几乎是中国唯一没有国有企业存在的产业。在没有补贴和极少的政府干预的情况下，只有那些最优秀的企业能存活。在过去的三十年中，深圳的人口增长了约50倍；我相信只要政府能够在试验中总结出互联网的特点，互联网会融入各行各业中。 第二个重要作用是互联网的对行业的“去中介化”，和近来更被强调的“中介化”。互联网简化了工作流程削减了成本和价格，许多传统的中介已经不需要了。现在，移动计算提速如此之快，线上平台让闲置的资源和人手更充分的被利用，因此新的中介也浮现了。 Q2. Premier Li Keqiang mentioned at the Boao Forum on Thursday that China’s economy is now in a crucial transitional period, considering the downward growth of the world economy. Can you share with us the outlook of China’s economic growth in the short run? And how does it relate to the Asian economy?
问2： Ans: In this transition period, it is a tradeoff between saving the housing industry and the manufacturing industry. With the stock market fluctuation last year, Chinese people put more of their money in the housing market. The prices surged over 50% in certain cities in one year. With internal prices being so high, an option is to adjust the external prices like exchange rate. If the exchange rate is devaluated, the manufacturing industry will likely benefit but with a catch. The catch is that the other countries selling competing products are not devaluating at the same time. So it is important through international discussions a bad equilibrium will not be emerged. Another possible outlet is the recently emphasis of the supply side economics. With so little growth in the external economy it is important to develop another measure, not just price but the quality of the product so that we will be able to have more market in the outside world as well as in mainland China.
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